Consumer Law
Radio Giant Alpha Media Files for Bankruptcy
The Portland company that owns radio stations KXL, KINK, and KUPL — along with more than 200 other stations around the country — filed for bankruptcy Sunday night.
Alpha Media Holdings said none of its stations will go off the air. It told employees Monday that operations will continue as usual.
The company said it will use the protection afforded by Chapter 11 bankruptcy to reduce its debt and find additional capital. In bankruptcy documents filed in the Eastern District of Virginia, Alpha told the court that it has already reached a preliminary agreement to accomplish that restructuring.
Alpha owns properties in 44 markets across the country. Endeavour Capital, a Portland private equity firm, invested in Alpha and helped fund its growth.
